Izzar Rachid 4

What Happened
Izzar Rachid, Head of Global Product Strategy at Biogen (BIIB), had restricted stock units convert into 6,889 common shares on 2026-02-06. Of those, 2,038 shares were withheld/disposed to satisfy tax withholding at $201.18 per share (total withheld value $410,005), leaving a net 4,851 shares issued to Rachid. The conversion entries are reported with code "M" (exercise/conversion of derivative) and the withholding with code "F" (payment of exercise price or tax liability). This is a vesting/conversion event rather than an open-market purchase or discretionary sale.

Key Details

• Transaction date: 2026-02-06 (reported on Form 4 filed 2026-02-10) — filing appears timely.
• Conversions (M): 2,044; 1,802; 3,043 shares acquired at $0.00 (total 6,889).
• Withholdings (F): 805 shares ($161,950), 458 shares ($92,140), 775 shares ($155,915); total withheld value $410,005 at $201.18/share (total 2,038 shares).
• Net new shares delivered to insider: 4,851 (6,889 converted minus 2,038 withheld).
• Footnotes: F1 notes an adjustment for transfer to former spouse per a Domestic Relations Order; F2–F4 indicate these RSUs vest in three equal annual installments from grant dates 02/08/2023, 02/07/2024, and 02/06/2025 respectively.
• Transaction codes: M = conversion of derivative (RSU vest/settlement), F = tax withholding. No 10b5-1 or late-filing flag indicated in the excerpt.

Context
This was a routine RSU vesting/conversion with shares withheld to cover tax obligations (a common "cashless" withholding mechanism). Because this was not an open-market sale or a purchase, it doesn't necessarily signal the insider's view of the stock — it reflects compensation vesting and tax settlement.